Property transfer in philadelphia

Flipper/Rehabber · Phila, PA · Member since 2018 · 24 posts · 2 votes

Hello All!!

I am a current investor in Philadelphia. And I am having a little issue!

1) I am interested in buying a property but one of the owners has died and the other owner is nowhere to be found! The property has been a bandit for over five years. This case how would I go about obtaining the deed?

2) I am also interested in buying another property but there is outstanding mortgage on the house and The owner is terminally ill. And the Son is willing to sell the house. Will I have to take the mortgage over?

If anyone can plz gave me advice, I would greatly appreciate it enjoy your Sunday!!!

0 Reply

20 views

3 Replies

Jump to latestLatest

Sort by

Simon W.Business Member
Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 687 votes
5y
@Lisa Leary
1. If the house was really abandon, the city would have the own it because of property taxes.
2. You buy the property by getting a mortgage just like you were buying your own home.
Accounting Properties LLC
View Page
CFO LLC
View Page
0 Reply
Lisa Leary
OP
Flipper/Rehabber · Phila, PA · Member since 2018 · 24 posts · 2 votes
5y
@Simon W.
Okay, thank you Replying to my post
0 Reply
Joseph ODonovanPro Member
Property Manager · Ridley, PA · Member since 2017 · 427 posts · 449 votes
5y
@Lisa Leary 1. You can't buy the property unless the owner sells it you. Unless, its up for tax or mortgage foreclosure. Check the Sheriff Sale listings.
2. Does the son have POA? If not, no deal. If yes, then the mortgage gets paid off by the seller at settlement.
1 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.